Southwest Airlines Boeing 737-700 aircraft as seen landing at dusk time at Ronald Reagan Washington National Airport DCA in Arlington County, Virginia over the Potomac River in the United States of America flying over water and buildings.
Southwest Airlines shares slid more than 6% in premarket trading Thursday after the airline reported lower unit revenue and higher costs during the second quarter — and said the trends are likely to continue this quarter.
The Dallas-based airline's second-quarter unit revenue dropped 8.3% from a year earlier, Southwest said, citing a policy change last summer that removed expiration dates from pandemic travel credits.
The carrier said it expects unit revenue to fall as much as 7% during the third quarter on capacity up 12% from a year earlier.
Airlines have enjoyed record revenue in recent months, but airfare in the U.S. has dropped from 2022, according to the latest inflation read.
Persons:
Ronald Reagan, it's, Bob Jordan, they're
Organizations:
Southwest Airlines Boeing, Ronald Reagan Washington National Airport DCA, Southwest Airlines, Airlines, Southwest, Revenue
Locations:
Ronald Reagan Washington, Arlington County , Virginia, United States, America, Dallas, U.S